Note 20 - Parent Company Financial Statements

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

20. Parent Company Financial Statements

Condensed Balance Sheets

December 31, (In thousands)	2015		2014
Assets
Cash and cash equivalents	$	35,964	$	32,086
Investment in subsidiaries		191,630		193,390
Other assets		1,243		1,074
Total assets	$	228,837	$	226,550
Liabilities
Dividends payable	$	-	$	113
Subordinated notes payable to unconsolidated trusts		48,970		48,970
Other liabilities		4,169		4,538
Total liabilities		53,139		53,621
Shareholders’ Equity
Preferred stock		-		10,000
Common stock		937		936
Capital surplus		51,608		51,344
Retained earnings		120,371		105,774
Accumulated other comprehensive income		2,782		4,875
Total shareholders’ equity		175,698		172,929
Total liabilities and shareholders’ equity	$	228,837	$	226,550

Condensed Statements of Income and Comprehensive Income

Years Ended December 31, (In thousands)	2015			2014			2013
Income
Dividends from subsidiaries	$	14,426		$	16,525		$	14,566
Interest		12			28			29
Other noninterest income		2,555			3,132			3,740
Total income		16,993			19,685			18,335
Expense
Interest expense – subordinated notes payable to unconsolidated trusts		866			844			864
Noninterest expense		4,938			3,977			3,980
Total expense		5,804			4,821			4,844
Income before income tax benefit and equity in undistributed income of subsidiaries		11,189			14,864			13,491
Income tax benefit		(1,076	)		(555	)		(428	)
Income before equity in undistributed income of subsidiaries		12,265			15,419			13,919
Equity in undistributed income (loss) of subsidiaries		2,727			1,040			(473	)
Net income		14,992			16,459			13,446
Other comprehensive income (loss)		(2,093	)		8,087			(10,081	)
Comprehensive income	$	12,899		$	24,546		$	3,365

Condensed Statements of Cash Flows

Years Ended December 31, (In thousands)	2015			2014			2013
Cash Flows From Operating Activities
Net income	$	14,992		$	16,459		$	13,446
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (income) loss of subsidiaries		(2,727	)		(1,040	)		473
Noncash employee stock purchase plan expense		4			4			4
Noncash director fee compensation		104			82			-
Change in other assets and liabilities, net		582			454			(799	)
Deferred income tax (benefit) expense		(54	)		17			(62	)
Net cash provided by operating activities		12,901			15,976			13,062
Cash Flows From Investing Activities
Return of equity from nonbank subsidiary		1,355			1,500			-
Net cash provided by investing activities		1,355			1,500			-
Cash Flows From Financing Activities
Redemption of preferred stock		(10,000	)		(20,000	)		-
Dividends paid, preferred stock		(508	)		(1,990	)		(1,500	)
Shares issued under employee stock purchase plan		130			129			133
Net cash used in financing activities		(10,378	)		(21,861	)		(1,367	)
Net increase (decrease) in cash and cash equivalents		3,878			(4,385	)		11,695
Cash and cash equivalents at beginning of year		32,086			36,471			24,776
Cash and cash equivalents at end of year	$	35,964		$	32,086		$	36,471